Schaeffler has finalized a cooperation agreement with the Factory Berlin startup campus to set up an “innovation hub.” This move will offer Schaeffler with a professional environment and the resources needed for its digitalization and innovation initiatives.
Factory Berlin is a platform that is used for networking and cooperation. Many corporations and medium-size companies work with Factory Berlin to get support for the transformation and digitalization of their business models. As one of Factory Berlin’s partners, Schaeffler will benefit from the expertise of the startups that are a part of Factory Berlin while sharing the knowledge it has gained from being a global technology company.
Speaking about the move, Professor Tim Hosenfeldt, Senior Vice President Corporate Innovation at Schaeffler said, “Factory Berlin is an ideal place for sharing information with young companies and digital talents across industry borders and shaping the future of mobility together. It is an inspiring environment with a startup spirit where we can continuously drive our digitalization and innovation topics,”, is pleased to report about the atmosphere and the startup spirit at the Factory.
Schaeffler is an active promoter of digitalization, which is one of the planks of its “Mobility for tomorrow” strategy. The strategy involves expansion of existing business models and development of new business models.
Gerhard Baum, Chief Digital Officer of Schaeffler AG said that digitalization requires the creation of an ecosystem and Factory Berlin serves this purpose. Through Factory Berlin, Schaeffler will be able to work more closely with startups to implement its digital strategy – the ‘Digital Agenda’ – in a target-oriented fashion, quickly and with the right partners. In Schaeffler’s case, the digital ecosystem will involve collaborating closely with its suppliers, partners, customers, universities, research institutions and innovative startups. The focus will be on creating new digital services for customers.
Factory Berlin is a startup campus that serves as a platform to connect startups and renowned technology companies. It is spread out over 16,000 square meters (3.4 acres) of office space. Some of the companies which have offices on the campus include online music platform SoundCloud and American mobility platform Uber. There are many small companies which also work at the Factory.
Udo Schloemer, CEO and founder of Factory Berlin, highlighted the importance of having Schaeffler as its partner: “At the Factory, we bring together startups, corporations and medium-size companies, and together we shape the digital world. With Schaeffler as our partner, our community will be complemented by a mobility expert that has understood the potential of innovations for corporate success.”
Manju Mathew, an MBA in marketing, completed publisher training courses from the Oxford Brookes University and New York University. She started with marketing and PR roles before moving on to her current position as a full time writer. Currently living in Dubai, her life as an expat has sharpened her observation skills and flair for writing. She enjoys writing about luxury cars like Ferrari, Lamborghini, etc even if she can only dream of owning them.
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